U.S.-listed Liberty Global disclosed a near-5% stake in British telecom group Vodafone on Monday, saying its larger rival's shares were undervalued by the market but ruling out a takeover.
Liberty Global owns half of Virgin Media O2, a major Vodafone rival in its home market, and has operations in Belgium, Switzerland, Ireland and Slovakia.
Shares in Vodafone, which operates in 24 countries, closed 2.1% higher at 94 pence on Monday, giving the company a market capitalisation of 25.50 billion pounds , Refinitiv data showed.
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